Big Banks at Risk on "Bank Transfer Day"
3 Nov 2011 11:04 Africa/Lagos Big Banks at Risk on "Bank Transfer Day" New data from The Harris Poll shows that Big Banks could learn from credit unions on delivering an exceptional customer experience PR Newswire NEW YORK, Nov. 3, 2011 NEW YORK, Nov. 3, 2011 /PRNewswire/ -- Big Banks may be vulnerable to losing customers to credit unions on November 5th, Bank Transfer Day, where according to social media, tens of thousands have signed up to drop Big Banks in favor of joining a credit union. While credit unions enjoy best in class customer retention rates (87% Extremely/Very Likely to Continue), the nation's largest banks fail to engender the same degrees of loyalty from their customers. For example, only two in five of Bank of America's customers are extremely or very likely to continue (40%), as are less than half of JP Morgan Chase's customers (46%) and just over half of Wells Fargo/Wachovia's customers (54%). (Logo: http://photos.prnewswire.com/prnh/201005...